According to a study by Cognizant Impact published on Wednesday, the astonishing impact of generative AI on the United States economy will reach $1 trillion in the next decade, but this could come at a cost for workers.
Technological research predicts that around 90% of jobs will be impacted during this process.
The findings of this research demonstrate how quickly this technology could disrupt the trajectory of the US economy, providing priceless insights for leaders to harness its potential and adapt swiftly.
In a statement, Adrian Cooper, CEO of Oxford Economics, stated that Cognizant has formed a partnership with their organization to develop an economic model for the study.
According to the study, Generative Artificial Intelligence has the potential to enhance operational efficiency, generate new sources of income, drive product and service innovation, and ultimately redefine businesses.
The economic model analyzed 18,000 tasks that drive the United States’ economy.
The AI Gene has the potential to increase productivity in the United States by 1.7% to 3.5% and boost the American economy.
The GDP will range between 477 billion and 1 trillion dollars in annual value over the next 10 years, based on rates of business adoption. Meanwhile, 52% of jobs will face significant changes, affecting approximately 9% of current jobs in the United States.
The study concluded that the workforce could be displaced, with 1% potentially struggling to find new employment based on historical economic changes.
